Egyptian Pound Floating and how it will affect Real Estate
In the recent few days, there are many news and discussions regarding a recent trend or tend to float and devalue the Egyptian pound. Is this will be a good thing or it will affect the whole economic status and we will be doomed? However, while tackling the real estate field, we shall know how it will affect the market (selling and buying) and the pros and cons of such floating.
But before tackling the pros and cons, we shall clarify that investing in real estate is the most secure and stable thing as it does not affected that much by floating as the price of properties are in a constant rise; or if it did not rise at least it will remain as it is.
So, if you have an apartment for sale in tagamoa-el-khames, it does not mean that you are in a trouble but in contrast, actually you own a secure investment source. The rise of properties’ price is a guarantee that you invest your money in the right place. So, real estate investment is the best secure solution in compare to saving money in the banks without investing them.
Moreover, if you have a property for rent, it will be good for you to rent it instead of not get benefit from it; even if you lower its renting price. So, as an owner you will guarantee a source of income and as a tenant, it will be a good chance for you to rent a good property with a somehow low price than its real price.
On the contrary, there is another point of view that indicates that floating or devaluing the Egyptian pound will have a slight effect on properties. It will be due to the high prices of properties, the increment in supply rate, and the rareness in demand rate, so consequently the citizen became unable to pay the rent.
Floating/devaluing the currency is a phenomenon that may face the country in the next stage, so we shall study the real estate market well and know how this will affect us as a property owner or as a tenant.